Landmark Sheffield city centre bank to shut down as 56 branches axed across UK

The Yorkshire Bank in Fargate is one of dozens across the country closing after owner Virgin Money announced plans to close several of its branches.

The firm is set to close 22 branches and consolidate a further 30 more over the next year.

In total, the bank will close six Clydesdale Bank sites, 12 Yorkshire Bank branches, and four Virgin Money locations.

The 30 additional branches will be consolidated into another Clydesdale Bank / Yorkshire Bank / Virgin Money location within half a mile, leaving Virgin Money with a network of 166 physical stores.

The bank said that it would find alternative roles for staff either within other stores locally or elsewhere in the Group, wherever possible.

But it confirmed that around 500 roles will be axed, including 215 in-branch positions.

The group said that the closures reflect the way that customers are using services now, with fewer using traditional bank branch services.

It said that approximately 280,000 cheques were deposited by the bank's mobile phone app rather than in branches last year.

The branches will start to shut from May this year.

The firm’s branch in Lound Side, Chapeltown will also close.

Lucy Dimes, at Virgin Money, said: "The decision to close branches is never taken lightly.

"The changes announced today are focused on consolidating branches where there is another Clydesdale Bank/Yorkshire Bank/Virgin Money location within half a mile, as well as closing a number of branches to reflect changes to customer demand."

Virgin Money says that the branch closures mean that the group will have a network that is "fit for the future"

Yorkshire Bank, which traces its roots back to 1859, will disappear in a process starting later this year and set to finish by the end of 2022.

The Yorkshire Bank will be incorporated into the Virgin Money store, which sits directly opposite it on Fargate.